Diversified Trust Co Increases Stock Position in RB Global, Inc. (NYSE:RBA)

Diversified Trust Co lifted its holdings in shares of RB Global, Inc. (NYSE:RBA) (TSE:RBA) by 48.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 63,119 shares of the business services provider’s stock after purchasing an additional 20,724 shares during the period. Diversified Trust Co’s holdings in RB Global were worth $5,694,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. National Bank of Canada FI grew its holdings in RB Global by 309.6% during the third quarter. National Bank of Canada FI now owns 808,172 shares of the business services provider’s stock worth $65,014,000 after acquiring an additional 610,843 shares during the period. FMR LLC grew its stake in shares of RB Global by 60.5% during the 3rd quarter. FMR LLC now owns 1,180,975 shares of the business services provider’s stock worth $95,057,000 after purchasing an additional 445,004 shares during the period. CIBC Asset Management Inc increased its holdings in shares of RB Global by 57.1% in the 3rd quarter. CIBC Asset Management Inc now owns 984,364 shares of the business services provider’s stock valued at $80,076,000 after purchasing an additional 357,761 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of RB Global by 17.1% in the third quarter. The Manufacturers Life Insurance Company now owns 2,435,191 shares of the business services provider’s stock valued at $196,109,000 after purchasing an additional 354,803 shares during the period. Finally, Canoe Financial LP boosted its holdings in RB Global by 22.0% during the third quarter. Canoe Financial LP now owns 1,418,666 shares of the business services provider’s stock worth $113,900,000 after buying an additional 255,484 shares in the last quarter. 95.37% of the stock is owned by institutional investors and hedge funds.

RB Global Price Performance

Shares of RBA traded down $0.56 during trading hours on Tuesday, reaching $90.85. 90,586 shares of the company traded hands, compared to its average volume of 515,677. The stock has a market capitalization of $16.78 billion, a PE ratio of 49.38, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96. The stock has a fifty day simple moving average of $92.79 and a 200 day simple moving average of $85.22. RB Global, Inc. has a fifty-two week low of $60.84 and a fifty-two week high of $99.79. The company has a quick ratio of 1.17, a current ratio of 1.28 and a debt-to-equity ratio of 0.52.

RB Global Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 18th. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.29 per share. The ex-dividend date was Wednesday, November 27th. This represents a $1.16 annualized dividend and a dividend yield of 1.28%. RB Global’s dividend payout ratio is currently 63.04%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of RB Global from $105.00 to $107.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Royal Bank of Canada lifted their price objective on RB Global from $99.00 to $107.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. CIBC upped their target price on RB Global from $102.00 to $109.00 and gave the company an “outperformer” rating in a report on Thursday, December 12th. Finally, Robert W. Baird lifted their price target on RB Global from $86.00 to $100.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, RB Global has an average rating of “Moderate Buy” and an average price target of $100.36.

About RB Global

RB Global, Inc, an omnichannel marketplace, provides insights, services, and transaction solutions for buyers and sellers of commercial assets and vehicles worldwide. Its marketplace brands include Ritchie Bros., an auctioneer of commercial assets and vehicles offering online bidding; IAA, a digital marketplace connecting vehicle buyers and sellers; Rouse Services, which provides asset management, data-driven intelligence, and performance benchmarking system; SmartEquip, a technology platform that supports customers' management of the equipment lifecycle; and Veritread, an online marketplace for heavy haul transport solution.